Medical Credit Fund Raises USD 36.6 Million to Support Health Entrepreneurs in Sub-Saharan Africa
Medical Credit Fund (MCF), the only debt fund fully dedicated to the African health sector, on Thursday announced the completion of a EUR 32.5 million fundraise by its second fund (MCF II).
This financing round will expand the Fund’s presence and support to healthcare providers in sub-Saharan Africa, with a focus on primary healthcare services, including malaria prevention and treatment as well as maternal and childcare.
This round of financing also caters to expanding its fully digital loan product called ‘Cash Advance’, which grew exponentially in the past two years.
The funding round was anchored by the Dutch Ministry of Foreign Affairs, which provided the first equity injection of EUR 7.5 million in January this year, to cater to the demand for loans during the heights of the COVID-19 crisis.
Photo by US Army Africa via Flickr.